Note 5 - Goodwill and Other Intangible Assets

6 Months Ended

Jun. 02, 2018

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note

5:

Goodwill

and Other Intangible Assets

The goodwill activity for the

six

months ended

June 2, 2018

is presented below:

	Americas						Asia			Construction			Engineering
	Adhesives			EIMEA			Pacific			Adhesives			Adhesives			Total
Balance at December 2, 2017	$	373,328		$	177,464		$	21,514		$	324,860		$	439,518		$	1,336,684
Acquisitions 1		3,080			727			35			3,168			2,727			9,737
Currency impact		(1,778	)		(4,874	)		(111	)		(245	)		(867	)		(7,875	)
Balance at June 2, 2018	$	374,630		$	173,317		$	21,438		$	327,783		$	441,378		$	1,338,546

1 Adjustments to preliminary goodwill for Royal Adhesives and Adecol as of June 2, 2018.

As discussed in Note

17,

as of the beginning of fiscal

2018,

we modified our operating segment structure by allocating the Royal Adhesives segment into each of the

five

other segments. This resulted in a change in our reporting units. We allocated goodwill to our reporting units using the relative fair value approach.

Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows:

	June 2, 2018
Amortizable Intangible Assets	Purchased Technology & Patents			Customer Relationships			All Other			Total
Original cost	$	131,002		$	957,152		$	109,330		$	1,197,484
Accumulated amortization		(32,522	)		(171,572	)		(44,284	)		(248,378	)
Net identifiable intangibles	$	98,480		$	785,580		$	65,046		$	949,106

	December 2, 2017
Amortizable Intangible Assets	Purchased Technology & Patents			Customer Relationships			All Other			Total
Original cost	$	132,495		$	968,060		$	110,576		$	1,211,131
Accumulated amortization		(27,478	)		(144,964	)		(37,417	)		(209,859	)
Net identifiable intangibles	$	105,017		$	823,096		$	73,159		$	1,001,272

Amortization expense with respect to amortizable intangible assets was

$19,276

and

$7,874

for the

three

months ended

June 2, 2018

and

June 3, 2017,

respectively, and

$38,519

and

$15,229

for the

six

months ended

June 2, 2018

and

June 3, 2017,

respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next

five

fiscal years are as follows:

	Remainder
Fiscal Year	2018		2019		2020		2021		2022		Thereafter
Amortization Expense	$	38,140	$	75,846	$	73,309	$	71,767	$	69,193	$	620,851

Non-amortizable intangible assets as of

June 2, 2018

and

December 2, 2017

are

$556

and

$520,

respectively and are related to trademarks and trade names.